Audit Planning: Risk Three types of risk when conducting an audit. Focus on areas with the most risk.
{"Image DocumentName": "Audit Planning: RiskThree types of risk when conducting an audit. Focus on areas with the most risk.", "Image ImageDescription": "Inherent Risk. This is the susceptibility to material risk in the absence of controls. Control Risk. This is the risk that a material misstatement will get through the internal control structure and into the financial statements. Detection Risk. This is the risk that auditors and their audit procedures will not detect a material error or misstatement. FOSTER School of Business Acctg 320.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}